FAS Wealth Partners Inc. Sells 1,380 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• FAS Wealth Partners Inc. reduced its stake in Alphabet Inc. by 5.6%, selling 1,380 shares and bringing its total ownership to 23,122 shares, valued at approximately $3.576 million.
• Alphabet's quarterly earnings report showed an EPS of $2.81, exceeding expectations, but revenue of $76.49 billion fell short of the forecast of $89.30 billion.
• Alphabet announced a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8th, representing an annual yield of 0.43%.

FAS Wealth Partners Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,122 shares of the information services provider's stock after selling 1,380 shares during the period. FAS Wealth Partners Inc.'s holdings in Alphabet were worth $3,576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter valued at about $28,000. Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the first quarter valued at approximately $39,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $49,000. Navigoe LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $51,000. Finally, Elite Financial Inc. bought a new position in Alphabet in the 1st quarter valued at $42,000. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 0.5%

NASDAQ:GOOGL opened at $193.18 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 1.90. The company has a market cap of $2.34 trillion, a PE ratio of 20.57, a PEG ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock has a 50-day simple moving average of $175.77 and a 200 day simple moving average of $172.93.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. During the same period last year, the business earned $1.89 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

GOOGL has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research report on Thursday. Wells Fargo & Company lifted their price target on Alphabet from $177.00 to $184.00 and gave the company an "equal weight" rating in a report on Thursday. BMO Capital Markets lifted their price target on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, JMP Securities boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $211.32.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,409 shares of company stock valued at $43,523,710. 11.64% of the stock is owned by insiders.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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